Published: 2025-10-27T12:19:36.000Z
Chart USD/ZAR Update: Leaning lower
1
Anticipated minor tests higher have not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.7165 | ** | 50% ret of Aug-Oct fall | S1 | 17.2000 | * | congestion | |
| R3 | 17.7000 | * | congestion | S2 | 17.0630 | * | 9 Oct YTD low | |
| R2 | 17.5625 | * | 38.2% ret of Aug-Oct fall | S3 | 17.0315 | ** | 30 Sep 2024 (y) low | |
| R1 | 17.5000 | ** | congestion | S4 | 17.0000 | ** | congestion |
Asterisk denotes strength of level
12:00 GMT - Anticipated minor tests higher have not been seen, as daily stochastics and the daily Tension Indicator turn down, with prices currently pressuring congestion support at 17.2000. Broader weekly charts are also coming under pressure, highlighting room for a break towards critical support at the 17.0315 year low of 30 September 2024 and the 17.0630 current year low of 9 October. A further close beneath here would turn sentiment negative and confirm a deeper corrective of the broad 2021-2023 rally. Meanwhile, congestion resistance at 17.5000 should cap any immediate tests higher.